hi guys, for life insurance i realised that the total payout is much cheaper for a 5 year plan instead of a 20-30 year old plan.

for example the yearly pay is higher on 5 years for example RM10k for 500k coverage, but RM4k for 20 years. however 10k for 5 years is only RM50k, while RM4k for 20 years is RM80k.

is it actually much more beneficial to get a shorter payment term?

Hi All,

I had medical coverage from GE as below :

Life + CI
SM200 (medical)
Premium waiver
Smart Extender 120K

However due to family history, I may prone to be high risk on canceer. Hence, would like to get some advice :

1) Is my current coverage sufficient?
2) If no, is it advisable to top up (either additional riders or increase coverage limtis) or purchase from another insurance?

Other opinion or suggestion are welcome.
Thanks

Hi all,

Need a recommendation on a life insurance policy and seems like this tered might be a good place to start.

Details about myself

- age: 24 y/o
- occupation: bank executive. So pretty much just office work
- non-smoker
- single ( unfortunately ) and only one debt commitment for a car. But the monthly installments are just below 15% of my gross

Am looking for a Non-participating term-life policy. The kind that can be bought online at an affordable price. I've taken a look at a few companies and noticed eTiQa is the cheapest at under RM 50 a month. But I would like to know if anyone here have better options to suggest.

I'm a bit unsure as to how much coverage I need, but I assume RM 500k for 20 years coverage since I may want to pursue larger financial goals like buying a house maybe 10 years down the road

Would appreciate any thoughts or suggestions

Side note: The reason why I really highlighed the word "non-participating" is because despite this is what I firmly want, the insurance agents that I spoke with (just the ones i asked, no further) cannot seem to understand. A participating policy or IL-policy is always suggested with high premiums that I don't want. For me, cost is a major consideration when buying term insurance.

Hi ckdenion, current life and CI are 300k, as for medical had additional rider smart extender which extend the annual limit to 1.2 mil with deductible of 120k which is cover using SM200 (120k annual limit with lifetime limit 1.2 mils) . Major burden will be my parents medical around 2-3k per month (installments)  n house loan of 1.5k.

Currently 36 n work as engineer.tq
Hi lifebalance, in ur opinion what will be the optimum amount for critical illness? FYI, I'm single.tq

Alright. In terms of claims, would you know which company tends to have the smoothest process? eTiQa looks good, but I'm keeping my options open.

In terms of income, my current gross is 4k. For now, I'm only wanting a term insurance that covers life and TPD only. In terms of CI and medical card, my current employer will cover that with no limits. Hence, they are unnecessary for the time being.
Thanks for the info. Though as some quick questions.

1) Even basic term insurance also will have increases in premium as policyholders age?

2) If premiums do increase over time, does the Sum Assured also increase as well? (i.e if it costs RM 50 per month for a RM 500k coverage for 20 years, if premium increases to RM 75 per month, does the SA go up to RM 550k for example)

Further, would you know which insurer have the broadest term insurance coverage on death / TPD? I didn't know about the exclusions and wonder if there are any general ones across the industry or some companies are more restrictive than others.

Hi, can I ask one thing in regards to your industry.

Many times I have to sit down and listen to an agent talk for 1-2 hours about the product offering. I'm aware most features are standard. When I ask about their competitors and how their plan differs and what are the advantages / selling strengths, they are unable to give any meaningful points. Most of it boils down to "Let me see the policy and I'll advise you."

Is there a lot of obfuscation in regards to competing policies or is it just smoke and mirrors ? I understand a sale is hard to make in this time and age but I really despise having to sit down for an hour or two to make small talk for this sort of thing.

Looking for a pure no-frills standalone medical card.

I’m a 30 year old bank exec (group covered), single and a casual smoker. No pre existing medical conditions.

Budget is 3k/year and hoping to get the widest coverage with highest single bed R&B. No investment-linked plan pls. I do my own stock picking. Hope any sifus here can help me out.

Thanks for your reply! I'm planning on getting a separate life insurance plan but not just yet. Main priority is to shop for the best medical card in the market in the event I get diagnosed with anything. Do medical cards generally not cover critical illnesses?

Is it advisable then to buy multiple medical cards from different providers so that coverage is more comprehensive (as in can use such and such medical card in event of that specific disease) ?

So would a good solution in this case be to get a good main medical card (AIA maybe since almost everywhere is accepted with those stickers) as well as a secondary deductible medical card (given that deductible cards are cheaper?)

I was advised by another forummer above that I run the risk of not being fully covered if I were to put all my eggs in a proverbial basket?

Also as discussed David, pure term life insurance can be bought for cheap online since BNM mandated the offering. Am planning to do so but at a much later date. Frankly I don't feel the critical illness payout is important since the bulk of the cost would be in treatments anyway which ought to be covered by the medical card no?

Cherroy has clarified and I've understood thanks.

No fear on rejection of claims. Just want the best medical card in the market within the specified budget. Don't really want life insurance, critical payout and investment linked because it's unnecessary bloat to the premium I'll be paying. If need be I'll add on the critical coverage payout later on but right now more focused on the medical card per se.

Hi all,

I am having 2 AIA insurance.
1. A-Life CriticalCare (FullPay)
cover ALC2 A-LIFE CRITICALCARE(FULL) and DCF6 A-PLUS DISABILITYCARE
Premium: RM2,795

2. ANNIVERSARY LIFE PLAN
Cover: ALP2PB ANNIVERSARY LIFE PLAN and WP-N 3N EAPWP/BASIC
Both coverage amount is RM20k for each
Premium: RM398

Both plans are stated as Life insurance in the MyAIA online account. May I know is this correct? Should the first one is a medical insurance?

The first plan premium is quiet heavy to me. Having it for about 5 year, if I want to reduce my premium, besides the coverage amount will drop, what are the things will be affected?

Appreciate your advise. Thank you.

Hi all,

I would like to ask what is insurance charge? I only know it is only apply for medical and life insurance. It is a cost to the policyholder.

Can anyone give a simple for traditional medical/life insurance how to derive the figure for sum assured amount, cash value and death benefit since it has insurance charge exist.

Question for those with AIA,

For ILP the minimum monthly premium is RM150, however the selected option might be below RM150, lets say RM143. What does actually happen to the extra RM7 I would have to pay to meet the minimum premium?

So would it be better just to add on some coverage to meet the RM150, rather than paying extra for investment?

My AIA ILP plan was originally like this:

Health 6000
R&B Plan 200 (Deductible: 300)

RM143 Monthly Premium, would have to pay extra RM7 to meet monthly minimum.

Then, I added an extra coverage for HospitalIncome:

Health 6000
R&B Plan 200 (Deductible: 300)
HospitalIncome 100

RM153 Monthly Premium

I had discussions with my life planner and using the iPad I can see the monthly premium generated depending on whatever options I choose. So when I tried to go for something not expensive I ended up with RM143 monthly premium (Life 6000, R&B 200 (300 Deductible)). My concern was more towards the medical card only rather than the life hence I put life at almost absolute minimal, while I judge R&B 200 to be adequate enough for me. Since I was short of RM7 to meet the RM150 minimum monthly premium, I thought that it would be a waste to not add some form of rider to make the premium closer to RM150. I was recommended by my life planner to take the waiver extra but I decided for HospIncome 100 since I felt it would be more worth it (if I recall these two options have the same premium). Would you guys have recommended me something else?

Some Info:
Age before birthday: 23
Occupation: Consultant (Office Work)
Non-Smoker
Single

May I know for any insurance type, if I have 2 same insurance type with different sum assured, when I would like to claim it, the claim form would require to fill up any similar insurance you have both with the company and with other insurance company, will the claim amount proportionate if submit both insurance claim together or submit one another after the first claim is approved?

Its meant to be projected up to 80 years sustainability in the policy but of course that could easily change I suppose. My concern is if I just drop the HospIncome, would that RM7 be sort of wasted? But from what I gather from the feedback here, the extra RM7 does go to investment so it would increase sustainability. I guess I do not see any extra riders that would be of real use to me as compared to extra sustainability...

May I know for different insurance type case?

Situation 1
2 Medical insurance

Situation 2
2 critical illness insurance

Situation 3
2 life insurance

Question, we would expect the COI of standalone medical to be higher than ILP during the later years. But shouldn't the COI rise approximately the same for both (assuming both have R&B 200)? If we do not look at ILP with its investment returns offsetting the increase in premium, the COI for both standalone and ILP would be about the same no? Sorry I just want to understand the concept here.

I understood that life insurance may cover certain medical problems that are not covered by medical card.

Does anybody have a list of this?

There are some interesting insurance plans offered by foreign agents / brokers.
1. What does it take to demand the local preferences insurance companies to offer the same / similar packages?
2. Can I take take the overseas plans to sell in Malaysia? Are there laws against it and what does it take to make it happen?

Thanks

Somebody was indicating that it was better to have life insurance because of a medical card, because life insurance includes more illnesses than a medical card. In his case his wife had problems during giving birth and needed to go into ICU which would not be covered by medical card according to him but still covered by life insurance.

So I was wondering what other conditions/medical problems/medical emergencies are not covered by medical card, but only covered by life insurance.

Hi guys wta does health insurance cover sex related injuries???

Example you injured your private part?
If they cover it it they will use the fund from the annual limit?
Bcs I see there is something called emergency accident outpatient what does this mean?